While it is widely known that Asian markets have the potential to boost U.S. companies’ bottom lines as a result of rapidly expanding appetites for American exports, most business leaders can benefit from learning how to better navigate the challenges of working in these potentially lucrative markets, said Dick Drobnick, director of the Center for International Business Education and Research at the USC Marshall School of Business.
According to the International Monetary Fund’s “Developing Asia” forecast, Asian economies are expected to grow at 8.4 percent. “The Asian markets are booming and they are becoming increasingly open to American exports,” Drobnick noted.
For the past 23 years, the Center for International Business Education and Research and the U.S. Department of Commerce have produced the annual Asia Pacific Business Outlook conference, which will be held on March 28-29 at USC.
The conference attracts 50 Asia business experts from the U.S. Commercial Service, the private sector and academia to provide direction and insights for the 250 American business participants who want to take advantage of export and investment opportunities in the Pacific Rim.
Participating in this year’s conference as part of the “New Markets, New Jobs Tour,” Secretary of Commerce Gary Locke will speak about the Department of Commerce’s efforts to connect small- and medium-sized businesses with the resources they need in order to sell more of what they make overseas and create more jobs in the United States. Doubling U.S. exports in five years is a goal of President Barack Obama’s national export initiative.
Dino Patti Djalal, Indonesian ambassador to the United States, will provide insights about doing business with Southeast Asia’s largest economy and one of the world’s best-performing emerging markets.
“One of the key value propositions of the conference is that since the Pacific Rim economies are changing so rapidly —whether it’s in the area of regulatory policies, human resources issues or the cultural environment — business books about these markets are frequently out of date within a year or so,” Drobnick said. “The conference provides an opportunity for participants to interact directly with Asia business experts to learn about today’s business environments and opportunities for success.”
Sustainability and green technology business opportunities in Asia will be an important theme at this year’s conference.
Commercial Service officers will provide overviews of sustainability opportunities in each economy, including an estimated $1 trillion greentech market in China, a $100 billion sustainable business market in India and a $1.2 trillion environmental market in Japan.
“The upcoming conference will provide an ideal environment for understanding the tremendous opportunities of the Pacific Rim,” said James G. Ellis, dean of USC Marshall. “It captures many of the school’s strengths as it brings together entrepreneurs, thought leaders and government officials who share the common goal of competing successfully in the global economy.”
A full list of speakers and sponsors, as well as a complete schedule of events, are available at www.apboconference.com
The Asia Pacific Business Outlook Webcast will take place at apboconference.com/webcast